What do you understand by the term Economics?
Everywhere human beings are found to make efforts and make money and then spend this money to satisfy their needs. Hence, the activities concerning the earning and spending of wealth are studied under the term Economics. (Eco.)
Various Definitions of Economics
i) Adam Smith : Economics is the study of "an enquiry into the nature and causes of riches of the nations."
ii) J.S. Mills : Economics is the study of "the practical/sensible science of the production and distribution of the wealth."
iii) L. Robbins : Economics is the "science which studies human behaviour as a connection between end and scarce income which have alternative uses."
iv) Richard Lipsey : Modern eco. concerns: -
a) The allocation of a society's resources among alternative uses and the distribution of the society's output amid individuals and group.
b) The ways in which production and allocation changes over the time period.
c) The efficient and inefficiencies of the economic systems.
General Definition
Definition: Economics is the study of how people allocate their limited resources for instance land, labour and capital to provide for their infinite wants.
Economic concepts
General problems in different types of economic systems comprises of:
* What to produce and in what quantity or amount (private goods or public goods, consumption or investment, etc.)
* How to produce them i.e. what is required for the production (coal or nuclear power, who farms or teaches, how much and what kind of machinery, etc.)
* For whom to produce, which reflects the distribution of income from output.
The subject therefore defined includes the study of choices as they are impacted with resources and incentives.
Areas of economics can be divided into several groups, which include:
Email based theoretical economics homework help - assignment help at TutorsGlobe
Are you searching economics tutor for help with Nature and Scope of Economics questions? Nature and Scope of Economics topic is not easier to learn without external help? We at www.tutorsglobe.com offer finest service of economics homework help and economics homework help. Live tutors are available for 24x7 hours helping students in their Nature and Scope of Economics related problems. We provide step by step Nature and Scope of Economics question's answers with 100% plagiarism free content. We prepare quality content and notes for Nature and Scope of Economics topic under economics theory and study material. These are avail for subscribed users and they can get advantages anytime.
Why TutorsGlobe for homework help
Postulates of Quantum Mechanics tutorial all along with the key concepts of Physical meaning of the Wave-function, Quantum Mechanical Operators, Collapse of the Wave-function and Correspondence Principle
tutorsglobe.com antigen antibody reactions assignment help-homework help by online immunology tutors
Theory and lecture notes of Production Technology all along with the key concepts of production technology-two variable inputs, Isoquants, Marginal rate of Technical Substitution, Elasticity of Substitution. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Production Technology.
theory and lecture notes of solving equations algebraically all along with the key concepts of quadratic equations, factoring, extraction of roots, completing the square, quadratic formula, polynomials of higher degree and position equation. tutorsglobe offers homework help, assignment help and tutor’s assistance on solving equations algebraically.
Morphology of pteridophytes tutorial all along with the key concepts of Characteristics of Pteridophytes, Life cycle of Pteridophytes, Fossilization Process, Type of fossilization, Types of fossils, Petrifaction, Cast or incrustation, Compression
Expansion of Gases tutorial all along with the key concepts of Kinetic Molecular Theory of Gas, Boyle's Law, Charles' Law, Cubic Expansivity of a Gas, Gay - Lussac's Law, Gas Law or Equation, Ideal Gas Equation, Intermolecular Energy and Forces
Wave motion tutorial all along with the key concepts of Types of Waves, Transverse wave, Longitudinal wave, Propagation of Waves, Representation of Wave Motion, Relation between Wave Velocity, Frequency and Wavelength, Phase Difference, Progressive Waves
Theory and lecture notes of Building Up Aggregate Demand all along with the key concepts of Building Up Aggregate Demand, Income-Expenditure Diagram, Consumption Function, Autonomous Spending. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Building Up Aggregate Demand.
Concept of communities and community interactions tutorial all along with the key concepts of concept of Communities, Coevolution of species within Communities, Types of Communities, Terrestrial Communities, Freshwater Communities, structure of Communities
tutorsglobe.com rigor mortis assignment help-homework help by online muscles tutors
periodic table-classification of elements tutorial all along with the key concepts of periodic law, description of the periodic table, groups of periodic table and transition elements
wondering where to get the finest britain after 1688 assignment help service at low prices? get it from our qualified tutors!
tutorsglobe.com energy released in nuclear fission assignment help-homework help by online type of nuclear reaction tutors
Class C Amplifiers tutorial all along with the key concepts of Modes of class c amplifier, Output characteristics of Class C power amplifier, Class C power amplifier circuit diagram
tutorsglobe.com c sharp dot net assignment help-homework help by online computer programming tutors
1965200
Questions Asked
3689
Tutors
1460125
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!